Nansen Analysis: Multi-coin leading with over $17 million in investment profit in the second half of 2025

Based on Nansen’s major chain analysis monitoring data, new developments have emerged in the investment return rankings for the second half of 2025. MultiCoin and Version One each topped the profit charts with over $17 million, leading the revenue competition among investment institutions.

In last year’s market environment, large-scale capital raising and market growth expectations led to active portfolio deployment by major investment firms. According to Nansen’s analysis, the distribution of investment profits during this period vividly reflects the strategic choices of institutional investors and market trends.

Investment Institution Activities in Profit Rankings

At the top of the total PnL ranking are MultiCoin and Version One, each recording profits exceeding $17 million, closely followed by DFIance Capital. The revenue scale of these major investment institutions suggests the rapid growth of the crypto asset market in the second half of 2025 and the high accuracy of investment decisions made by institutional investors.

Continuous Market Participation by Institutional Investors

Notably, prominent investment firms such as a16z, Pantera Capital, and Coinbase Ventures repeatedly appear in the profit rankings. This indicates that market activity by institutional investors has been ongoing over the past six months.

The continuous portfolio building and investment execution by each institution reflect firm trust in the crypto asset sector and an active approach to market growth opportunities. The over $17 million profits in the second half of 2025 can be seen as the result of these strategic investment activities.